'Rs 500 cr earmarked for textiles industry'

A sum of Rs 500 crore has been earmarked by the govt under 12th five year plan to enable the textile industry to meet the required environmental standards.NEW DELHI: A sum of Rs 500 crore has been earmarked by the government under the 12th five year plan to enable the textile industry to meet the required environmental standards by adopting modern technology, Lok Sabha was informed today.

Responding to questions in the House, Textiles Minister Santosh Kumar Gangwar said an Integrated Processing Development Scheme will be implemented in Public Private Partnership mode by Special Purpose Vehicle which will be a corporate body registered under the Companies Act.

The funding patter of the scheme envisages sharing of funds between Government of India, state governments and SPV in the ratio of 50:25:25 respectively, he said.

Gangwar said the government of India support is limited to 50 per cent of the project cost with a ceiling of Rs 75 crore for projects with Zero Liquid Discharge and Rs 10 crore for projects with conventional treatment systems.

"In case of marines discharge project, maximum assistance can be given upto Rs 75 crore on case to case basis," he said.